Was it you taking the video?
I still couldn't wrap my head around a "bitcoin city" since it will be tough to sustain it. I guess the no tax policy mentioned by the speaker would be enough to encourage investors and tourists. Did they hand out materials on how it would look like?
imagine it like "silicon valley"
where like 30% of all workers are in the tech industry. sharing a common view of innovation. where the other 70% are normal retailers taking funds from the tech entrepreneurs. and real estate selling housing to the techies.
it becomes a opportunity where by if there was 70,000 jobs before, there would be 100,000 jobs after
thus because a tech currency is also involved in the industry, it would become common place to accept btc to buy houses in suburbs and food in malls.
much like how the wild west era, people didnt trade bank notes printed in the east.. but instead gold nuggets locally in the western towns near gold mines.
there currently is no 'city'(of any currency) in the area near the volcano.
but they want to build one.
this is so they can first build a geothermal power plant. and then housing for the workers. and then shops/entertainment venues for the workers. where some of the geothermal energy is to power bitcoin asic farms which would easily pay for the geothermal plant investment.
EG
why need to build say 16,250 houses just to get a 32,500kw/h consumption after like 2 years of building and then offering up them houses..where those 16k residents need to pay their bills.... its a slow, unpromised delay for ROI for the geothermal investment
its not easy, cheap, fast to build 16k houses if there is no 16k jobs available in the area. and the geothermal plant only gets paid after people move in.
meaning it can take more then 2 years to build up a whole new area/economy based on old fiat economy. as its a balance of creating jobs and attracting workers and then getting them workers in a position to get a mortgage for a house locally instead of commuting to work
where as el salvador can easily get that income of 32500kw/h by just having 1 factory of 10,000 asics that can be up and running in 3 months and paying upfront the 32500kw/h via allotment contracts(requiring say just 100 houses for asic farm employees, in the first 3 months)
then that income can fund expansion while they build out the housing over the next couple years
they can pay off/grow 1mw of geothermal build cost every 90 days
EG comparing building a btc city vs traditional city in best case of traditional city growth to capacity in 2 years
timescale 0mon 3mon 6mon 9mon 12mon 15m 18mon 21mon 24mon
asic $2.8m $2.8m $2.8m $2.8m $2.8m $2.8m $2.8m $2.8m $2.8m (25.2m after 2 years)
housing $0 $0.35m $0.7m $1.05m $1.4m $1.75m $2.1m $2.45m $2.8m (14.35m after 2 years)
EG expansion/pay off geothermal
timescale 0mon 3mon 6mon 9mon 12mon 15m 18mon 21mon 24mon
asic 1mw 1mw 1mw 1mw 1mw 1mw 1mw 1mw 1mw (9mw after 2 years)
housing 0mw 0.125mw 0.25mw 0.375mw 0.5mw 0.625mw 0.75mw 0.875mw 1mw (4.5mw after 2 years)
